Cereals

  • As the sterling weakened slightly today on weak economic data, UK wheat prices found some support.
  • Turkey tender to buy 130KT of EU wheat.
  • EU wheat prices consolidated today following recent rally, a stronger USD added to the pressure.
  • Russia are reportedly considering selling some of their state grain stocks to free up storage ahead of coming crop.
  • Across much of the UK and EU, spring barley plantings are making good progress with a few localised issues.

Oilseeds

  • Weekly canola crushing in Canada fell this week by nearly 9% on last week.
  • 55K birds in Suffolk, UK to be culled due to to Avian Flu outbreak.
  • Soy loadings at Brazilian ports remain delayed as thousands of trucks remains stranded on flooded highways.
  • Drier conditions are expected in Northern Brazil through March which should help to ease the logistical issues.
  • Rains in Argentina are currently beneficial for recently planted soybeans.

Chart of the Day #1: East Anglia Rainfall Oct-Feb

Chart of the Day #2: Kansas Rainfall: Dec-Feb

Futures & Options prices